WES, GMG, WOW, TCL: Why were these ASX shares recently in focus?

3 min read | April 05, 2022 01:33 PM AEST | By Ashish

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WES, GMG, WOW, TCL: Why were these ASX shares recently in focus? — Image source: © Ymgerman | Megapixl.com

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Highlights

The Australian share market has performed on a decent note so far this month.

Investors would expect April to follow a strong performance by the benchmark in March.

In the first three months of 2022, there have been a few stocks which made more news than others.

The Australian share market started on an upbeat note on Tuesday, buoyed by overnights gains in US tech stocks. Even ASX-listed energy stocks advanced amid strong commodity prices.

The benchmark ASX 200 index was trading 0.16% or 12.1 points up at 7,525.8 in the first 20 minutes of opening. The volatility index remained flat at 12.65. Investors would expect April to follow a strong performance by the benchmark in March. The ASX 200 ended the month of March with a gain of over 6%.

In the first three months of 2022, there have been a few stocks which made more news than others due to a range of reasons.

On this note, let’s discuss why these four ASX-listed shares were in focus in the past few days:

Wesfarmers Ltd (ASX:WES)

Wesfarmers operates in retail, chemical, fertiliser, industrial and safety products.

The retail conglomerate’s shares were in focus last week after it announced that WFM Investments Pty Ltd had acquired 100% of the shares in Australian Pharmaceutical Industries Ltd (ASX:API). WFM Investments Pty Ltd is a wholly owned subsidiary of Wesfarmers. Wesfarmers has now become the official owner of Australian Pharmaceutical Industries.

Goodman Group Ltd (ASX:GMG)

Goodman Group is an Australian-integrated commercial and industrial property group that owns, develops and manages real estate.

In its first-quarter update released in February, the company shared a strong outlook for this year. It expects its assets under management (AUM) to continue growing to nearly AU$70 billion by June 2022.

In the latest development, the company appointed Hilary Spann as an independent director to the boards of Goodman Ltd and Goodman Funds Management.

Woolworths Group Ltd (ASX:WOW)

Woolworths Group is an Australian retail group operating primarily in the supermarket sector. It has operations in discount department stores, home improvement, petrol and hotels.

Woolies shares have struggled in the past week following the release of its mixed bag half-year earnings.

While Woolies reported 8% revenue growth, earnings and net profits were both muted. There was also a 26.4% cut to the company’s interim dividend.

Transurban Group (ASX:TCL)

Transurban Group is under the industrial sector and is the developer, operator and owner of toll roads and intelligent transport systems.

The stock has traded on a volatile note since the year’s start amid the ongoing Russia-Ukraine conflict and the prospect of higher interest rates to deal with a strong inflation.

The road traffic is still lower than pre-COVID-19 levels, and this has also negatively impacted the stock. Nevertheless, traffic levels are recovering from the worst seen last year.

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